DECENTRALIZED OR CENTRALIZED?

[onemoretime8520]

day by day btc becomes more centralized as there are just some mining companies that want to become the monopol in mining or claim that they own some true companies which will make it centralized one way or another.

[squatz1]

The thing is that at first, we're going to have to be centralized, it is the only thing which can bring people to Bitcoin because they know that they are protected enough as certain companies are insured and so on and so forth. Centralization is needed at first, but once the problems are displayed with centralization (such as susceptibility to being hacked, corruption, downtime, etc) then people are going to develop p2p (decentralized) platforms.

We will end up with decentralization across most things crypto. Though who knows when it comes.

[khaled0111]

I think Bitcoin is good as it is, there is no reason to change it and make it centralized.
All Bitcoin users want it to remain decentralized because they hate banks policies and seeing their money being controlled by someone else.
Besides, what makes Bitcoin unique and special is that it is decentralized and every one can have his own wallet.

[SindiRokRok]

They should understand more deeply about the decentralized system, the bitcoin does not have no manager, but it is the nature of bitcoin like this, there is a blockchain that holds a transaction. If bitcoin wants to have a manager it's not possible unless we make our own digital currency (for example, Ripple)

[pitiflin]

   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.

Barricades like what? Bitcoin is good as it is. Centralization would fuck bitcoin on a whole new level. You would have a leader who orders/gets things done to bitcoin itself,there would be more regulation,and there would be direct taxes,for example taxes would be on your holdings and not on your capital gains. Come on man,think it through,are you really that stupid to believe in anything that people would say?

[mostkey]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

maybe some people predict if the bitcoin is centered. it will be able to provide a good impact to boost the price of low bitcoin assets. sooner or later we will surely know what might happen when the bitcoin is centered

[kingkonjac]

after a time if btc aims to become the single crytpo and accepted worldwide by people it would need a central physical place where people can see something and give feedback

[Indrawan77]

I prefer bitcoin to be decentralised, it is better to have an investment where the price is based purely on the demand and supply, with decentralised the price could really go unlimited, we already got so many centralized investment, so if someone want a centralised investment they can go for fiat investment

[tokenomics]

I kind of like it being decentralize because most decentralized exchanges do require the creation of an account before you can begin trading. However, unlike more centralized exchanges such as Coinbase which needs to confirm users' identities via various forms of official government ID, most decentralized exchanges allow anyone to create an account under any name they choose with very little or no approval process.

[mhhyysqa]

Whether bitcoin or other coins, I think decentralization is the most important, and one of the important reasons for the value of bitcoin is because of its decentralization, which can be a greater decentralization of the project.

[Ridwan Fauzi]

I have been more comfortable with the decentralized system that bitcoin has. Everything I've done with bitcoin without being interfered with by the government, and I think if bitcoin is interfered with the government I will brag the government too greedily to regulate bitcoin.

Most likely those who want bitcoin to turn into a centralized system are those who do not want to take risks and want more profit from bitcoin. Without the bitcoin government it will become and make every country's economy change in its own way.

[brickafterbrickwalldpt]

I don't see any point in making Bitcoin centralised. The whole advantage of using cryptocurrencies is that most of them don't have any central authority. Ripple is a centralised cryptocurrency which can process far more transaction, but people who are in charge of Ripple, can freeze accounts and block certain transactions. Also, you have to pay 20 XRP to create a wallet which is ridiculous. That's why we should keep Bitcoin decentralised and don't surrender to the governments who are trying to get rid of Bitcoin. They are simply afraid of losing control of money.

[rodel caling]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

of course i choose decentralized than centralized but i go where is better for the crypto's  for  the whole if which one of them become legal in the world  the  virtual currency use international currency in the future as legit to use anythings needs for the daily needs use as payment for anywhere in this world.

[amishmanish]

There is nobody who understands bitcoin and wants it to be centralized. Who are these "numerous citizens" who want it to be centralized. A trusted third party is nowhere involved when you want to own bitcoin.
Your BTC is only yours for the safekeeping. Its value will not be judged or allotted by any third party. The only people who are okay with centralization are those who think that the transaction rate has to be increased at the cost of decentralization. That is why you have ideas of masternodes, PoS, Increased blocksize size etc. etc.

As a community we shouldn't be making the dentralization trade-off. It dilutes the idea completely for short term gains. The moment you create a central point, there is a possibility that it'll be co-opted someday or the other.

[Julunguul]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

the combination between the two features might be better, in my opinion, centralized is more secure, but the regulation, legalization, and rules inside are too complicated, it would be better if decentralized implement their security system because it is better, and regulation of the centralized must be abandoned.

[Abiky]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

Well, one thing for sure, is that a centralized currency would have full support from governments and banks, as well as being compliant to regulations, allowing its users to become protected against theft or fraud. With a centralized currency, people would be able to claim their funds back (in the case of theft) and even feel confident in its value as it becomes stable over time. However, a centralized currency would suffer from many risks such as a single point of failure, manipulation, freezing of funds, among others. With a decentralized currency, those risks are mitigated as anyone would be able to participate in it. Also, ID verification won't be necessary to use such a currency, and there would be no need to trust a middleman or a third party.

However, decentralization has risks involved too where there's no way people could claim their funds back, there's limited scalability, and the risks of hacks/theft becomes higher. Therefore, even with such drawbacks, a decentralized currency would be the most viable option against third party interference and manipulation.

Bitcoin would do just fine as is, by being a decentralized cryptocurrency for anyone to use and enjoy. But, if it were to become centralized, then it can easily be shut down by governments, banks, or other external entities. The most important thing here, IMO would be security and reliability, and if Bitcoin would need to sacrifice its speed and efficiency for such features, then it would be ideal to preserve its decentralization for years to come. In the end, I believe that Bitcoin being a decentralized cryptocurrency would be more favorable as people will be able to use it regardless of their financial status, race, gender, political influence, among other things. Just my opinion

[Domenc]

If you want Bitcoin to become a centralized system which is governed and controlled by only few people, then there are many other system you can easily switch to them like PayPal, western union Payments and most importantly banks. You will not face the problem of decentralized system which is governed by people, hence giving every individual power rather you will be a puppet in the hands of few people only.

[Google+]

I prefer decentralized and I see bitcoin using that technology which means the security of the technology is so high that it is used for bitcoin security, not only that for decentralized infrastructure more convincing.

[Bershie]

   Many individuals agree and have the same opinion about bitcoin as decentralized digital asset, a system without a central bank or single administrator is more favourable.
   But somehow, numerous citizens want also the bitcoin to be centralized, because others believes it can remove barricades and walls to allow more easily reached and democratized financial and economic infrastructure.
   For you what is your own perspective regarding this matter?

If bitcoin become centralized, it's not anymore differ to fiat currency that controlled by the government,''Big Whales'' has the sovereignity to dictate it's
preferential price in the market. It's no more secured because it will pass on a single point of data collection (timestamp) and it's very weak against hacker's. Ergo,  there is a higher probability that you will lose your precious coins.


Likewise, decentralized network provide more privacy and security to your wealth,because blockchain is not timestamp, they’re built in such a way that they cannot be modified once they’ve been recorded. Hacker's has to get thru multiple computers to hack to the network, it's a great tool for every single individual. Blockchain is for everyone.

[Svafnir74]

I think that bitcoin should be decentralized. Thus he was conceived. Decentralization is the basis of bitcoin's popularity and security. Decentralization makes it impossible to make a hacker attack on bitcoin.